Orgb 325 > MCQ 1 > Flashcards

MCQ 1 Flashcards

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1
Q

negotiation

A

an interpersonal decision-making process necessary whenever we cannot achieve our objectives single-handedly

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2
Q

interpersonal conflicts

A

a process that begins when several parties pursue incompatible goals

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3
Q

mind

A

involves the development of rational and thoughtful strategies for negotiation, designed to maximizr eco value

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4
Q

heart

A

we care about relationships and trust

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5
Q

satisficing

A

doing just enough to reach one’s minimum goals

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6
Q

optimizing

A

negotiators capture all of the potential gains in a situation

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7
Q

knowledge economy

A

many companies have disrupted traditional business models, spurring managers to reinvent themselves as knowledge brokers in the information technology

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8
Q

specialized expertise

A

decentralized business structures + absence of hierrarchical decision making provide opportinities for managers but also challenges

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9
Q

fixed pie perception

A

belief that what is good for one party must be bad for the counterparty

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10
Q

mixed-motive decision making

A

negotiation involves both cooperation and competition

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11
Q

self-assessment

A

defining your ideal outcome

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12
Q

reservation point

A

a quantification of a negotiator’s BATNA with respect to other alternatives

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13
Q

focal point

A

like an anchor, salient numbers , figures, or values that appear to be valid but have no basis in fact

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14
Q

sunk cost

A

money that has been invested and that is irrecoverable

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15
Q

multi-issue proposal

A

determine a variety of different combinations of the issues that all achieve the target or aspiration point

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16
Q

reference point

A

defines what a person considers to be a gain or a loss

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17
Q

strategic risk

A

the riskiness of the tactics that negotiators use at the bargaining table

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18
Q

contractual risk

A

the risk associated with the willingness of the other party to honor its terms

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19
Q

endowment effects

A

different valuations for the same object

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20
Q

overconfidence

A

a negotiator’s unwarranted level of confidence in the judgment of their abilities and the likelihood of positive events

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21
Q

party

A

a person who acts in accord with his or her preferences

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22
Q

hidden table

A

parties that are not physically present

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23
Q

monolithic

A

of one voice

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24
Q

one-shot negotiation

A

a transaction occurs, and no future ramifications accrue to the parties

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25
transactional negotiations
parties come together to exchange resources
26
disputes
negotiations take place because a claim has been made by one party and has been rejected by the other
27
linkage effect
the fact that some negotiations affect other negotiations
28
false negotiation
a party gains more by stalling negotiations until an external change takes place that improves their position
29
final deadline
a fixed point in time that ends the negotiations
30
time horizon
the amount of time between the negotiation and the consequences or realization of negotiated agreements
31
ratification
whether a negotiating party must have a contract approved by some other body or group
32
target point
what you're aiming for
33
bargaining surplus
amount of overlap between parties' reservation points
34
surplus
resources in excess of what is possible for negotiators to attain in the absence of a negotiated agreement
35
promotion-focused
negotiators conceptualize goals as ideals and opportunities, conversely
36
prevention-focused
negotiatiors conceptualize goals as obligations and necessities
37
goal-setting paradox
negotiators who focus on ideals do not feel as satisfied as negotiators who focus on their reservation point or BATNA
38
chilling effect
not worth negotiating because way too above/under
39
winner's curse
when the negotiator's first offer is immediately accepted by the counterparty
40
boulwarism
making one's first offer one's final offer
41
pratitioner-researcher paradox
the fact that intuition and folklore advise negotiators to never open first, whereas much scientific research argues that negotiators should always open first due to a "first mover advantage"
42
Anchoring Information Model
predicts when and why making the first offer helps or hurts negotiators
43
symmetric info
situation in which the negotiator has good information and the other party is believed to also have good info
44
asymmetric info
the negotiator doesn't run the risk of being anchored by the other party
45
tandem anchoring
counterparties are influenced by both endpoints of the range as they evaluate the proposer's reservation price as well as how polite they believe an extreme counteroffer would be
46
range offer
the counterparty will consider the lower end of the range as the employee's target and negotiate down from there
47
tandem anchoring account
counterparties are influenced by both endpoints of the range as they evaluate the proposer's reservation price as well as how polite they believe an extreme counter-offer would be
48
reciprocity
the tendency of negotiators to reciprocate concessions
49
aversion
the tendency for some negotiators to be disinclined to make concessions
50
unilateral
concessions made by one party
51
bilateral
concessions made by both sides
52
premature concessions
make more than one concession in a row before the other party responds or counteroffers
53
GRIT Model
Graduated reduction in tendion, a conflict resolution method in which parties avoid escalating conflict to reach mutual settlement within the bargaining zone
54
reciprocity principle
one party makes a concession and invited the other one to reciprocate
55
constraint
rationales refer to one's own limited resources
56
disaparagement
critique of the negotiated object or service
57
output
something a person receives from a relationship
58
inequity
when the ratio of outcomes to inputs is unequal
59
face
the value a person places on his or her public image, reputation, and status vis à vis other people in the negotiation
60
false conflict
believing interests are incompatible when they are not, lose-lose effect
61
compromise
reaching a middle ground between negotiators' positions
62
even splits
how the bargaining zone is divided among the negotiators
63
pareto frontier
the set of outcome corresponding to the entire set of agreements that leave no portion of the total amount of available resources unallocated
64
perspective taking
a cognitive ability to consider the world from another's viewpoint
65
empathy
the ability to emotionally connect with another person -> empathy produces greater emotional understanding
66
win win fashion
each negotiator is able to make gains on issues they regard as the most important in exchange for making concessions on lesser-valued issues
67
MESO Strategy
making several equally valuable offers at once (Multiple Equivalent Offers)
68
logrolling
the strategy of someone as to capitalize on different strengths of preference
69
contingent contracts
negotiators make bets based upon different world occurrences
70
post-settlement settlement strategy
negotiators agree to explore other options with the goal of finding another option that both prefer more than the current one or that one party prefers more and to which the other is indifferent
71
focal point
a single salient coordinating concept shared by negotiators
72
turning point
a departure that takes place during the course of negotiation, when the trajectory seems to change
73
Orgb 325
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